GE Vernova expects its business to grow rapidly in the coming years, driven by the data center buildout. The gas turbine giant just doubled its dividend and raised its share buyback program.
The GE Vernova stock price suffered a harsh reversal as it plunged by over 10% in a single day. It bottomed at $614, down by 15% from its highest level this year, erasing some of the gains it made recently when it boosted its payouts to investors.
As the year winds down, the broader market has delivered a solid performance, with the SPDR S&P 500 ETF Trust NYSEARCA: SPY up approximately 16% year-to-date (YTD). But beneath the surface, leadership is quietly shifting.
The company has been developing its fuel cell technology for years.
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